$BTC 🚨🚨🚨 BTC 4-HOUR ⏳ Timeframe 🚨🚨

#Bitcoin❗ Support and Resistance Levels:

‼️‼️ Analyzing the Latest Patterns and Potential Moves ‼️‼️

Current Analysis:

• Resistance Levels:

• Primary Resistance: $71,589.1 - This level is acting as strong resistance with a trend strength of 3.1 and an angle of 2°, indicating a 12.83% distance.

• Secondary Resistance: $66,205.2 - This level shows a strong resistance with a trend strength of 3.1 and an angle of 33°, indicating a 4.35% distance.

• Support Levels:

• Primary Support: $62,650.3 - This level is providing support with a trend strength of 3.05 and an angle of 5°, indicating a 1.26% distance.

• Current Price Level: $63,448.8 - BTC is trading just above the support level, facing downward pressure.

Latest Patterns:

• Trend Analysis:

• The trend indicators for 50, 100, 150, and 200 bars all indicate a downtrend with angles of -25°, -33°, -14°, and -9° respectively.

• Identified Patterns:

• Double Top: This bearish pattern suggests potential for further downward pressure.

• Black Swan: This pattern also indicates significant bearish momentum and potential further decline.

• AB=CD: This pattern indicates potential reversal zones.

Potential Moves:

• Elliott Wave Theory:

• According to the Elliott wave theory, BTC might be completing a corrective phase. We should monitor BTC’s movement towards the support and resistance zones.

• Price Projection:

• BTC may attempt to test the resistance level at $66,205.2 if it gains bullish momentum, but the overall downtrend indicates potential for further decline if it fails to break this resistance.

Important Note: Always remember the importance of capital management and avoiding greed.

BTC Analysis (BTCUSDT), 4-Hour Timeframe ⏰

Don’t forget to set a stop loss for any positions you plan to open. #bitcoin☀️ #BTC☀ #btcupdates2024 #Alert🔴 $BTC